Fannie Mae (FNMA)

[10bambam]

The petition’s more interesting argument, in my view, is that the FHFA case offers the justices the opportunity not just to opine on the constitutionality of the structure of agencies with a lone director removable only for good cause, but also on the constitutionally-required remedy for actions taken by an agency headed by an unconstitutionally appointed director. That question alone, Cooper & Kirk said, deserves the attention of the Supreme Court – and it’s sharply presented in the FHFA case, in which Fannie and Freddie shareholders contend that invalidation of the entire Treasury “net worth sweep” is the requisite fix for FHFA’s unconstitutionality.